Friday, January 14, 2011

Officer,Global Middle Office,Product Control

Overview

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 18,700 ATMs and award-winning online banking with nearly 29 million active users. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange

Job Description

The department provides finance and desk support to the LCT Desk, covering FX (forwards, vanilla options, NDFs, and structured trades) and Rates (swaps, bonds, options and exotics) products. The candidate will have the opportunity to see an array of products and various business areas from front to back office.

Responsibilities

Provide coverage for daily p/l process for any of the books in LCT. This includes both rates and FX books. Daily P/L process includes analysis of greeks, new deals, positions and cash reconciliation, and accounting. Trader support on P&L and Position queries Perform month end close process (posting to subledger, balance sheet tie out and signoff, reserves, and price testing) Work with trade support daily to ensure risk/positions are tied out and no outstanding risk issues remain. Assist in systems retirement, implementation, migration as well as other ad-hoc projects and new initiatives.

Requirements

Minimum of 2-3 years experience working in a product control functionThe candidate requires strong communication skill to liaise within MO teams, legal, risk management, traders, marketers, sales and other regions, i.e. TK/Singapore/London/NY/Mumbai/SeouHighly motivated, fast learner, able to work under pressure on tight deadlines, assertive, mature, and team player Prior management experience preferredProficient in Excel/AccessUnderstanding of fixed income, derivative, and FX instrumentsA certain exposures to structured debt products is preferableSolid understanding of Balance Sheet and accounting procedures

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